Energy and Performance are probably words with which any business owner are familiar. If you have been involved in a transaction involving commercial property since 2008, then they probably have another meaning to you as well. The overall energy rating is displayed on the infamous graphs that you may or may not pay much attention to. From 1 April this year, however, it has just become more interesting. There is now (broadly speaking) a minimum energy rating for commercial properties which must be satisfied prior to sale or lease. Importantly, this includes renewals of existing leases. Landlords and tenants alike need to consider what this means for them. Who is going to pay for the upgrades? When will they need to be done? What does the lease say? Perhaps most importantly, what is the current EPC rating? Checking your own paperwork, the national register or a quick call to your solicitors should answer the last question.
In five years’ time, all let properties will need to meet this minimum standard. Take the opportunity to review your lease with your lawyers. Planning in advance can assist you in negotiating and budgeting. You never know – you might even benefit from one of the exemptions… For more information please contact Jonathan.firstname.lastname@example.org Tel: 01752 246000